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85TH CONGRESS LEGISLATIVE HEARINGS AND REPORTS
Premerger Notification Amendment to Clayton Act. Hearings, Serial No. 2,
March 6, 7, 8, 20, and 21, 1957; H. Rept. No. 486, May 28, 1957, on H.R. 7698. Federal Trade Commission Jurisdiction Over Meatpackers. Hearings (Jointly
with Committee on Interstate and Foreign Commerce), June 5, 6, 7, 14, and
July 26, 1957, on H.R. 7319 and other bills.
20, 24, 25, 26; July 17, 18, 19, 24, 25, 31; and August 1, 7, 8, 1957; H. Rept. No.
1720, May 13, 1958, on H.R. 10378, Functional Discounts. Hearings, Serial No. 21, July 16 and 17, 1958, H.R. 10304,
H.R. 10305, H.R. 10604, H.R. 10999, and H.R. 11409.
INVESTIGATIVE HEARINGS AND REPORTS
The Television Broadcasting Industry. H: Rept, No, 607, June 24, 1957.
Serial No. 9, Part I, 2 vols., October 21, 22, 23, and 24, 1957.
Parts I and II, March 1, 1958. Consent Decree Program of the Department of Justice-American Telephone &
Telegraph Co. Hearings, Serial No. 9, Part II, 3 vols., March 25, 26, 27, 31;
April 1, 15, 16, 17, 22, 23, 24, 30; May 1, 7, 8, 21, and 22, 1958. Report of Antitrust Subcommittee (No. 5) on Conduct in Office of Robert Tieken,
the United States Attorney for the Northern District of Illinois. Hearings, Serial No. 17, June 11, 12, 13, 16, 17, 18, 19, and 23, 1958. Report, August 7, 1958. Federal Conflict of Interest Legislation. A Staff Report to Subcommittee No. 5,
Parts III, IV, and V, December 30, 1958, Antitrust Laws: A Basis for Economic Freedom. A Staff Report to the Anti
trust Subcommittee, Revised to January 1, 1959.
LEGISLATIVE HEARINGS AND REPORTS Finality of Clayton Act Orders. Hearings, Serial No. 3, May 27 and 28, 1969.
H. Rept. No. 580, June 26, 1969, on S. 726; Public Law 86-107, June 23, 1969. Functional Discounts. Hearings, Serial No. 7, June 25 and 26, 1969. Group Bargaining by Milk Producers. Hearings, Serial No. 12, August 20 and
21, 1959. Federal Conflict of Interest Legislation. Hearings, Serial No. 17, February 17,
18, 19, 24, 25, 26, March 2 and 3, 1960, Part 1; May 25 and June 1, 1960, Part 2.
INVESTIGATIVE HEARINGS AND REPORTS
ings, Serial No. 14, Part 1, 5 volumes, October 13, 14, 15, 20, 21, 22, 27, 29, 30,
and June 1, 1960.
June 29, 1960.
December 1 and 2, 1960, 2 parts.
the Department of Justice, January 30, 1959. (A.T. & T. and Oil Pipelines).
LEGISLATIVE HEARINGS AND REPORTS
Federal Conflict of Interest Legislation. Hearings, Serial No. 3, June 1 and 2,
1961. H. Rept. No. 748, July 20, 1961, on H.R. 8140; Public Law 87–849, Octo
ber 23, 1962. Premerger Notification. Hearings, Serial No. 5, April 27, 28, May 3 and 4, 1961. Auto Financing Legislation. Hearings, Serial No. 11, June 7, 8, 9, 28, 29, and 30,
1961. Parts 1 and 2. Telecasting of Professional Sports Contests. Hearings, Serial No. 13, August 28,
1961. H. Rept. 1178, September 13, 1961, on H.R. 9096; Public Law 87-331, September 30, 1961. Civil Investigative Demand. Hearings, Serial No. 14, August 23, 1961. H. Rept.
No. 1386, February 26, 1962, Conf. Rept. 1884, June 20, 1962, Conf. Rept. 2291,
August 28, 1962 on S. 167; Public Law 87–664, September 19, 1962.
INVESTIGATIVE HEARINGS AND REPORTS
Serial No. 6, June 14 and 15, 1961.
ings, Serial 10, Part 3, 2 volumes, March 7, 8, 9, 10, 15 and 16. 1961.
Subcommittee No. 5, March 23, 1962.
m of aines).
This compilation, "The Antitrust Laws—A Basis for Economic Freedom,” was published first in January 1950, and a revised edition was made available in January 1959. In the "Introduction” to the original publication, I stated that although the compilation had been designed originally only for the use of the Subcommittee on the Study of Monopoly Power, its usefulness to students and practitioners in the antitrust field gave it a permanent value that warranted publication separate from the committee's hearings.
Since the January 1959 revision, there have been important changes and amendments in the body of legislation that comprises our antitrust policies. The Clayton Act, for example, was amended in July 1959 to provide that orders issued under section 11 by a commission or board that is vested with jurisdiction thereunder shall become final, unless appealed to the courts. This legislation had been requested by the Federal Trade Commission since 1938 so that, procedurally, orders issued by the Federal Trade Commission under the Clayton Act would be on the same footing as the orders it issued under section 5 of the Federal Trade Commission Act. In September 1962 the antitrust law enforcement procedures were augmented by the enactment of the Antitrust Civil Process Act, to authorize the Attorney General to compel the production of documentary evidence that is required in civil investigations for the enforcement of the antitrust laws. Additional legislation that bears upon our antitrust policies is contained in the September 1961 amendment to the antitrust laws to permit certain joint agreements in telecasting organized professional team sports contests, and in the August 1962 authorization for the organization of the Communications Satellite Corporation.
Since its first publication in 1950, there has been a large and constant volume of requests for this compilation that has demonstrated its value in filling a specific need. Teachers, lawyers, universities, law schools, and public administrators have found this publication particularly useful. Accordingly, I requested the staff of the Antitrust Subcommittee to review the materials so that this up-to-date second revision could be made available.
The table of contents discloses the careful examination of the statutes that has resulted in this comprehensive compendium of the antitrust laws as of January 1, 1965.
With the passage of the Sherman Act in 1890 Congress evinced its determination to eradicate the abuses of monopoly in our national economy and to provide safeguards for the private enterprise system.
The Sherman Act, prohibiting monopoly and restraints of trade, augmented by the Clayton Act and the Federal Trade Commission Act, lays down a fundamental policy which has permeated the entire fabric of Federal legislation.
Antitrust principles are a peculiarly American instrument for the promotion and preservation of competition in free market. Congress has repeatedly declared its reliance on a private competitive economic system as the primary method by which essential energies are released for increased industrial productivity and for technological development. In addition to the economic benefits afforded by competition, we in the United States have come to recognize that our political freedoms under a representative government require the solid foundation of a free economy. We believe that for a democracy to be strong, adaptable, and progressive, it must be secure in its economic liberties.
Both of our major political parties, since the adoption of the policy set forth in the Sherman Act, have repeatedly affirmed the necessity to foster a competitive economy and to prevent business practices repugnant to economic rivalry.
Two general categories of exceptions have been made to the basic principles laid down by the Sherman, Clayton, and Federal Trade Commission Acts. These exceptions, rather than derogating from basic antitrust principles, demonstrate congressional desire to adhere to the general national policy in favor of a competitive economy. At the same time, the exceptions are a recognition of situations in which inflexible application of these principles is inappropriate.
The first of these involves agricultural, horticultural, labor, and fisheries organizations which face unique problems. The second is that granted to industries of a public utility or quasi-public utility nature. It should be here noted that no business segment exempted from the antitrust laws is without statutory regulation of some kind.
The first of these general exceptions is exemplified by the CapperVolstead Act, permitting “persons engaged in the production of agricultural products *** [to] act together in associations in collectively processing, preparing for market, handling, and marketing such products *'* *5 An example of the second type is the Civil Aeronautics Act, under which the Civil Aeronautics Board has specific authority to approve price-fixing agreements and agreements for divisions of earnings and traffic service. The Board's general powers include authority to approve agreements among air carriers "for controlling, regulating, preventing, or otherwise eliminating destructive, oppressive, or wasteful competition" and to approve "other cooperative working arrangements.”
The present compilation of the antitrust laws includes all of the amendments of the existing laws, new laws which have been enacted, and laws which, while not specifically antitrust in substance, are related to the antitrust laws. It will aid the committee in its functions and should serve to assist all those who use it in a better understanding of "The Antitrust Laws A Basis for Economic Freedom."
JANUARY 1, 1965.